BlackRock’s iShares ETF filing boosts Bitcoin above $25.7K

Bitcoin experienced a more than 1.3% surge, surpassing $25,700 within an hour after BlackRock’s iShares unit filed for a spot bitcoin ETF with the SEC. Just a day prior, Bitcoin had dropped below $25,000 for the first time in three months, facing concerns regarding the U.S. central bank’s hawkishness and increased regulatory scrutiny. However, the announcement from BlackRock reignited optimism for a spot bitcoin ETF, despite previous rejections by the SEC. The proposed iShares Bitcoin Trust will primarily consist of bitcoin held by a custodian, with Coinbase identified as the custodian in the filing.

Risk Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 87.49% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.